Sunday, July 26, 2009

Short Term Goals

I'm sort of struggling to nail down my short term goals and the order I should be working on them. I'm thinking in the less than 5 year range..

Snowblower
Water heater
Pay off car

Kitchen, possibly living room flooring
Windows
Carpet upstairs
Refinish office floor
Vacation in Alaska

The easy ones are the top two. The snowblower will be needed this winter, 'nuff said. The water heater is likely to die any time due to its current age, over 30 years. If it dies within the first year I'll only need to pay a service call fee or something like that. Those are both easy as they will be coming out of the first time homebuyer deal.

After that it gets tricky. My car has a 5 year loan and I've already done 2 years I believe so obviously it will be paid off in less than 5 years. But I'm working on accelerating that. The only bad part about that is even if it is paid off early, then I should really start saving part of the monthly payment toward the next vehicle. Even though I plan to keep my car for like 10 years, maybe more, there will come a day.. I would love the added flexibility though, if I have a bad month, to skip the loan payment or savings payment. If I work it right I can probably use what's left of the first time homebuyer's credit to pay off my car in the beginning of next year.

After that it gets really tricky..

What to do first? The cosmetic things, like flooring.. or the windows.. The problem with the windows is I imagine one should replace them all at the same time so as to have them match and such. But some are functioning well.. a few are not.

And then there's the vacation. That one kind of depends when my travel buddy would want to go. I'm hoping for next year or the year after. Last vacation I just took an extra pay check in a 3 check month and covered it but I think this trip may over run those bounds so I'd like to start saving.. even 10 bucks a month or something..

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